Whoops-not quite the bell that AC/DC had in mind; this is the Bell of the Chapelle Saint-Antoine; if you've been reading this blog, you'll get the connection. If not, you'll have to go back and read about the Fed Chairmen. But for those that say they don't ring a bell at the bottom, I beg to differ. It was advertised before the opening of the market Friday.
At the bottom.
Last week the market was alternating hot and cold, as the margined quant funds that were blowing up, had to sell their good stocks to raise cash, and buy their bad stocks (cover their shorts) to close out positions to keep the margin clerk away. So now the world's coming to an end and we're supposed to sell.
Sorry. I'll take Revelation's version and discard Wall Street's.
The central bankers are worried, and pumping liquidity so the game is over for the bears. The choristers singing "Hells Bells" were just a bit premature.
I'm rolling thunder, pouring rain
I'm coming on like a hurricane.....
I won't take no prisoners won't spare no lives
Nobody's putting up a fight
I got my bell I'm gonna take you to hell
I'm gonna get ya, satan get ya
Hells bells Hells bells,
you got me ringing Hells bells....
The only problem is that they forgot to look at the album cover. Last I remember, "Hells Bells" was in the album, "Back in Black."
And that's where we are going.
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